XAI Floating Rate trust shareholders vote on King Street sub-adviser as board offers 25% tender plan ahead of Aug. 6 meeting
XFLT•Board ties approval to liquidity plan with tender offers
The board framed the vote as pivotal, tying approval to a liquidity plan built around a 25% tender offer.
The plan also includes two contingent tender offers in 2027 and 2028 unless NAV performance triggers or the discount stays below 15%.
Shareholders to vote on King Street sub-adviser agreement
XAI Floating Rate & Alternative Income Trust shareholders vote Aug. 6 on a long-term sub-advisory deal with King Street’s Rockford Tower.
Seeking Alpha’s High Dividend Opportunities shifted to a "FOR" recommendation, aligning with proxy advisers ISS and Glass Lewis.
